ANNUAL REPORT - Bosch Global Car Multimedia Automotive Electronics Automotive Aftermarket Automotive

download ANNUAL REPORT - Bosch Global Car Multimedia Automotive Electronics Automotive Aftermarket Automotive

of 163

  • date post

  • Category


  • view

  • download


Embed Size (px)

Transcript of ANNUAL REPORT - Bosch Global Car Multimedia Automotive Electronics Automotive Aftermarket Automotive


  • Bosch in figures

    3.3 billion euros EBIT in 2016

    120 engineering locations worldwide

    Around 440 subsidiaries and regional companies in approximately 60 countries

    Roughly 7 billion euros spent on research and development

    Roughly associates worldwide


    73.1 billion euros sales revenue in 2016

  • THE BOSCH GROUP is a leading global supplier of technology and services. It employs roughly 389,000 associates worldwide (as of December 31, 2016). The company generated sales of 73.1 billion euros in 2016. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its ex- pertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to create solutions for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 120 locations across the globe, Bosch employs some 59,000 associates in research and development.

    The company was set up in Stuttgart in 1886 by Robert Bosch (1861–1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.

    2016 2015

    Sales revenue 73,129 70,607

    percentage change from previous year 3.6 44.2

    percentage of sales revenue generated outside Germany 80 80

    Research and development cost 6,954 6,378

    as a percentage of sales revenue 9.5 9.0

    Capital expenditure 4,252 4,058

    as a percentage of depreciation 141 146


    average for the year 383,917 368,833

    at December 31 389,281 374,778

    Total assets 81,875 77,266

    Equity 36,084 34,424

    as a percentage of total assets 44 45

    EBIT 3,335 4,587

    as a percentage of sales revenue 4.6 6.5

    Profit after tax 2,374 3,537

    Unappropriated earnings (dividend of Robert Bosch GmbH) 138 142

    Bosch Group key data Figures in millions of euros

  • Bosch Group business sectors

    1 Bosch Rexroth AG (100 % Bosch-owned)


    Power Tools BSH Hausgeräte GmbH


    TECHNOLOGY Security Systems

    Thermotechnology Bosch Global Service Solutions

    Other businesses: Robert Bosch Smart Home GmbH

    Other businesses not allocated

    to business sectors: Bosch Healthcare Solutions GmbH Bosch Software Innovations GmbH

    Robert Bosch Start-up GmbH Robert Bosch Venture Capital GmbH


    Gasoline Systems Diesel Systems

    Chassis Systems Control Electrical Drives

    Starter Motors and Generators Car Multimedia

    Automotive Electronics Automotive Aftermarket

    Automotive Steering

    Other businesses: Bosch Engineering GmbH

    Commercial Vehicles and Offroad Applications eBike Systems ETAS GmbH

    Two-Wheeler and Powersports

    INDUSTRIAL TECHNOLOGY Drive and Control Technology 1

    Packaging Technology

    Other businesses: Bosch Connected Industry

  • The magazine accompanying the annual report, entitled “Agility – New Connections · New Perspectives · New Worlds” is available online at

    Contents Annual report 2016

    Foreword 2 Board of management 4 Supervisory board report 8 Supervisory board, industrial trust, and international advisory committee 10

    Highlights 2016 12 Robert Bosch Stiftung 16 Agility 18 Group management report of the Bosch Group 20 Consolidated financial statements of the Bosch Group 66

    Auditor’s report 155

    List of graphs and tables 156 Publishing details 157 Ten-year summary of the Bosch Group 158

  • Foreword

    2 Bosch annual report 2016

  • 3

    Dear readers,

    The Bosch Group is embarking on a process of profound transfor-

    mation. The internet of things and its accompanying increase in

    connectivity, together with the automation and electrification of

    vehicles, will revolutionize markets and the competitive environ-

    ment. This will mean considerable opportunities and challenges.

    At the same time, the post-war global order is in flux. We are faced

    with seismic shifts – in the Americas and Europe as much as in

    Asia. Against this backdrop, we have two decisive tasks. The first

    is to increase our company’s profitability, despite only moderate

    global economic growth and considerable global uncertainty. Our

    second task is to use this as a basis for successfully shaping the

    transformation of the Bosch Group. As a company, we are devot-

    ing a lot of energy to these undertakings.

    With its great innovative strength, broad product portfolio, and

    global presence, Bosch is in an excellent position for the journey

    ahead: in a global economy that grew only moderately, we reached

    our growth targets in 2016 and were successful in many areas.

    However, we are having to make heavy upfront investments, thus

    systematically preparing the Bosch Group for the challenges of

    the future. This includes our activities in the fields of automated

    driving, electromobility, and connected manufacturing. And since

    artificial intelligence and software are very important for these

    fields, we are extending our expertise there. Merging our power-

    train technology activities to form one strong Powertrain Solutions

    division is an important move in preparing for the upheavals relat-

    ing to the internal-combustion engine. This area is currently feeling

    the negative effects not only of the debate about city driving bans,

    but also of the diesel engine manipulation affair. On this subject,

    at the end of 2016 the company reached a settlement with the

    vehicle owners affected in the United States. We are also continu-

    ing to cooperate fully with the investigating authorities in Germany

    and other countries.

    For Bosch, financial independence is very important. It paves

    the way to putting our own stamp on the transformation in our

    markets, and to making the upfront investments that are needed

    for this. For this reason, we will work intensively on this transfor-

    mation, as well as on increasing efficiency and productivity, and

    will constantly re-examine where we have to focus our efforts.

    Over the course of what is now our 130-year history, we have

    repeatedly opened up new areas of business and parted company

    with old ones. Moreover, times of change also call for new forms

    of collaboration. When faced with change, large companies have

    to be flexible and inventive. This calls for creativity on the part of

    all concerned, as well as intensive collaboration across divisional

    boundaries. Many things have already changed at Bosch. Its many

    initiatives and successful start-ups are a visible sign of the com-

    pany’s agility. To accompany the publication of our annual report,

    we profile these activities in an exclusively online magazine.

    We in the company are working with great determination to seize

    opportunities and overcome challenges. In 2016, our 389,000 as-

    sociates worldwide gave their all to take the Bosch Group forward.

    On behalf of the board of management, I would like to thank them

    for their hard work. At the same time, I would like to thank the em-

    ployee representatives for their constructive contributions to the

    transformation that lies ahead, the shareholders and supervisory

    board for their support, and our business partners for the trust

    they have placed in us.

    With best regards,

    Dr. Volkmar Denner

    Chairman of the board of management


  • Board of management

    Dr. Markus Heyn

    Dr. Volkmar DennerDr. Stefan Hartung

    Dr. Rolf Bulander Prof. Stefan Asenkerschbaumer

    4 Bosch annual report 2016

  • Geschäftsführung

    Christoph Kübel

    Dr. Dirk Hohei